Baoshan Iron & Steel Co., Ltd. completed the acquisition of 48.6139% stake in Shandong Iron and Steel Group Rizhao Co., Ltd. from Shandong Iron & Steel Group Co., Ltd.
January 01, 2024
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Baoshan Iron & Steel Co., Ltd. (SHSE:600019) agreed to acquire 48.6139% stake in Shandong Iron and Steel Group Rizhao Co., Ltd. from Shandong Iron & Steel Group Co., Ltd. on December 9, 2023. The transaction is approved by board of directors of Shandong Iron & Steel Group Co., Ltd. Yong Bai of Clifford Chance LLP (Beijing) acted as legal advisor to Baoshan Iron & Steel Co., Ltd. Marc Besen, and Dimitri Slobodenj of Clifford Chance Partnerschaftsgesellschaft acted as legal advisor to Baoshan Iron & Steel Co., Ltd.
Baoshan Iron & Steel Co., Ltd. (SHSE:600019) completed the acquisition of 48.6139% stake in Shandong Iron and Steel Group Rizhao Co., Ltd. from Shandong Iron & Steel Group Co., Ltd. on January 2, 2024.
Baoshan Iron & Steel Co., Ltd. is the Chinese No.1 iron and steel group. The activity is organized around two sectors:
- manufacturing of steel products and special products: carbon steel (hot and cold rolled steel coils, coated sheets, beams, concrete reinforcing bars, merchant steel, machine wires, sawing wire, sheet piling, public transport rail, etc.), stainless steel (stainless flat and long products, precision stainless steel strip, etc.) and special products (pipes and tubes, nickel alloy flat products, stainless steel special plates, etc.);
- sale of steel products and special products.
The group's products are primarily for the aeronautic, automotive, household appliances, construction and packaging sectors.
Baoshan Iron & Steel Co., Ltd. completed the acquisition of 48.6139% stake in Shandong Iron and Steel Group Rizhao Co., Ltd. from Shandong Iron & Steel Group Co., Ltd.
BAOSHAN IRON & STEEL CO., LTD. 
